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Dr Reddy's gets FDA warning letter for three drug plants
Mumbai: Dr Reddy's Laboratories Ltd, India's second-largest drugmaker by sales, received a warning letter from the U.S. Food and Drug Administration over inadequate quality control procedures at three manufacturing plants in India.Dr Reddy's shares fell as much as 12 percent in early trade to their lowest level since July 30.The warning letter was issued by the FDA to Dr Reddy's on Thursday...
Dr Reddy's shares fell as much as 12 percent in early trade to their lowest level since July 30.
The warning letter was issued by the FDA to Dr Reddy's on Thursday for its Srikakulam, Miryalaguda and Duvvada drug manufacturing plants - all based in southern India.
The letter followed FDA inspections of these sites in November, January and February, and the company will respond to the agency in 15 days, Dr Reddy's said in a statement on Friday.
"We will continue to actively engage with the agency to resolve these issues," Dr Reddy's Chief Executive GV Prasad said in a statement.
(Reporting by Zeba Siddiqui in Mumbai; Editing by Anand Basu)
Meghna A Singhania is the founder and Editor-in-Chief at Medical Dialogues. An Economics graduate from Delhi University and a post graduate from London School of Economics and Political Science, her key research interest lies in health economics, and policy making in health and medical sector in the country.She is a member of the Association of Healthcare Journalists. She can be contacted at editorial@medicaldialogues.in. Contact no. 011-43720751